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Tesla reported quarterly deliveries. Elon Musk’s shares are getting cheaper

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Tesla said it delivered over 405,000 cars in the fourth quarter of 2022. This is less than analysts expected. Investors reacted negatively to the data. Shares of the electric car manufacturer lost more than 14 percent on Tuesday after 7 p.m. Polish time. Tesla CEO is billionaire Elon Musk.

Tesla reported that in the fourth quarter of 2022 it delivered 405,278 cars, while analysts expected to exceed 431,000. Over the entire last year, deliveries of electric vehicles from this manufacturer increased by 40 percent, which means that the goal set by Elon Musk, i.e. an increase of 50 percent, was not achieved.

The company explains this by ongoing logistical problems and a decline in demand. In the last quarter of last year, the gap between production and deliveries increased to 34,000. vehicles because many cars got stuck in transit.

Tesla shares fall in value

“The results for the fourth quarter did not meet analysts’ expectations, the shares are losing nearly 14 percent today, and over the last six months they have fallen by over 50 percent.” – we read in the commentary of the XTB Brokerage House.

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Tesla stock quotes for the last three monthsstooq.pl

Reuters noted that the company is still the world’s most valuable carmaker, even after losing 65 percent of its sales. its market value in 2022.

Main photo source: EPA/Philip Singer

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